Bentley Systems Declares Quarterly Dividend
Infrastructure engineering software solutions provider Bentley Systems (BSY) has announced a dividend of $0.03 for Q2 2021.
The dividend is payable on June 15 to investors of Class A and B common shares of record on June 8.
Earlier this month, Bentley Systems also closed the acquisition of industrial company IoT (internet of things) and cloud technology company, Sensemetrics Inc.
Sensemetrics’ platform provides real-time safety and risk monitoring solutions in infrastructure, mining, and construction sectors.
Sensemetrics CEO Cory Baldwin commented, “The acquisition is a tremendous accomplishment for our team and an exciting milestone for us as we join the Bentley family to take our vision to the next level.” (See Bentley Systems stock analysis on TipRanks)
Bentley Systems will harness Sensemetrics’ technology and expertise to add IoT offerings to its iTwin platform. Furthermore, this move will help the platform improve asset performance and reduce environmental risks.
On May 24, KeyBanc analyst Jason Celino reiterated a Buy rating on the stock and increased the price target to $60 (4.6% upside potential) from $54.
After interacting with Bentley’s top brass, Celino is positive about the company achieving double-digit growth and views the stock as a core portfolio idea.
Consensus among analysts is that Bentley is a Strong Buy based on 4 Buys and 1 Hold. The average analyst price target of $53 implies 7.6% downside potential.
Shares have gained about 71.3% over the past year.
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